Team News Riveting
New Delhi, December 10
The micro, small, and medium enterprises (MSMEs) have received Rs 21,000 crore in the last seven months following the union government’s aggressiveness for economic betterment of small and medium industries to neutralise the COVID-19 slowdown impact.
The highest level of procurement was achieved in October, which was over Rs 5,100 crore and payment of over Rs 4,100 crore was done in the same month, said the Ministry of MSME. Further, it is expected to surpass in the first 10 days of November as the procurement of about Rs 4,700 crore and payment of about Rs 4,000 crore have already been reported.
Finance Minister Nirmala Sitharaman today hailed the Ministry of MSME for the quick clearance of dues of MSMEs. As part of Prime Minister Narendra Modi’s AtmaNirbhar Bharat package, it was stated that the MSME dues should be paid in 45 days.
The statement said that the procurement by the central government agencies and PSUs from MSMEs is on the rise and has increased by nearly 2.5 times since May 2020. Similarly, the payments to MSMEs have also gone up proportionately.
Since the month of May 2020, regular follow-up and concerted efforts have been made by the Government of India, particularly by the MSME Ministry for payment of these dues. Particular focus was placed on Central Public Sector Enterprises (CPSEs) and the Central Government Agencies for payment of dues to MSMEs.
As a result, over Rs 21000 crore of MSME dues have been paid in the past 7 Months since May 2020 by the Central Govt Agencies and CPSEs.
Efforts made in respect of clearing MSME dues include several rounds of letters written to the GoI Ministries and CPSEs by the Secretary, MSME, followed by personal talks and persuasions. The efforts of the MSME Ministry found strong support from the PMO and Cabinet Secretary, who wrote letters to the CPSEs and Government agencies.
